Shared bank account

By Kirstin RidleyLONDON (Reuters) - British investigators have frozen a bank account linked to a multi-billion dollar Azerbaijani money-laundering scheme that a network of investigative reporters has alleged rinsed dirty money mainly through four, UK-registered shell companies.gi The National Crime Agency (NCA) said on Wednesday that the Account Freezing Order (AFO), part of a new toolbox to allow investigators to freeze suspected proceeds of crime quickly, was the first "in relation to the Azerbaijani Laundromat".The NCA declined to give further details or divulge whether the frozen account was also linked to Danske Bank <DANSKE.CO>, the Copenhagen-based lender at the centre of a 200-billion-euro (181 billion pounds) money laundering scandal.The "Azerbaijani Laundromat" is a term coined last year by the Organised Crime and Corruption Reporting Project (OCCRP), a network of investigative journalists, after an investigation with Denmark's Berlinske newspaper and others.It alleged … [Read more...] about UK freezes bank account linked to Azerbaijani Laundromat

Susan Tompor Detroit Free Press Published 11:46 AM EST Dec 10, 2018 Hundreds of thousands of students across the country paid stiff banking fees after colleges cut marketing deals with big banks, based on a study obtained by the Free Press through a federal open records request. Collectively, students paid $27.6 million in account fees over just one year across campuses reviewed in a newly disclosed study conducted by the Consumer Financial Protection Bureau. The figure is likely higher since all schools were not reviewed. Colleges are looking for extra money, while banks want young customers. But the marketing marriage might be harmful to the pocketbooks of some cash-strapped students, depending on the type of agreement reached between the college and the bank. College students dished out as much as a weighted average fee of nearly $47 per active account to Wells Fargo in a 12-month period. Others, though, paid no charges on average to Fifth … [Read more...] about Some banks, colleges cut deals to share student account fees

Former King Juan Carlos I of Spain. Photo: Jaime Reina/AFP. Reports in the French, Spanish, German and Swiss media allege that former Spanish king, King Juan Carlos I, stashed illegitimately acquired funds in Swiss bank accounts. He assisted a peaceful transition from fascism to democracy in Spain in 1977. But a spate of scandals have tarnished the former king's reputation since. Now a German aristocrat, Corinna zu Sayn-Wittgenstein – who claims to have had an affair with the former king – says the royal figure used her accounts to launder money and enable illegal financial transactions. Juan Carlos I abdicated in 2014, two years after he outraged Spaniards by going elephant hunting in Botswana with Sayn-Wittgenstein at the height of the country's recession. The monarchy's reputation was further tarnished when his youngest daughter Cristina was accused in a corruption probe targeting her husband, who is now in custody. In audio transcripts … [Read more...] about Former Spanish king accused by alleged former lover of holding secret Swiss bank accounts to launder funds

HONG KONG -- Goldman Sachs once made a lot of money in Malaysia. Now Malaysia wants some of it back. The Malaysian government intends to seek restitution from Goldman Sachs, its new finance minister said this week, as it moves to resolve a scandal that led to the disappearance of billions of dollars and helped put the country deeply in debt. That could add significantly to the venerable Wall Street bank's problems in Malaysia, where it has become ensnared in the scandal. It already faces investigations in the United States and elsewhere related to its activity in the country, where it was once a dominant financial force. "We intend to seek some claims from them," Lim Guan Eng, Malaysia's new finance minister, said in an interview this week in Kuala Lumpur. The finance minister did not give any details about what kind of claims his government would seek, but he said authorities were likely to move cautiously and that the process "will take time." But he added that Malaysia's new leaders … [Read more...] about Malaysia to seek bank restitution